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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: $Mogul who wrote (7031)	7/18/2001 10:15:37 PM
From: keithcray	Read Replies (1) \| Respond to of 208838

You'll like this-->He thinks BRCM will prolly gap and fade. Thursday, July 19, 2001 Posted Wednesday, July 18, 2001, at: 19:35 PM by waxie The dilemma!!! IBM came in line, but said some stinky things. Yes, STINKY THINGS! Not exactly stock jargon,but then again we ain't no stinkin' stock jargon types! Basically guided DOWN DOWN DOWN. IBM is now trading down $7 on the day as I write this. Thats one big time drop for this garbage can, Nazi company. But, other than that,they are rocking! NOT! So, the question becomes - How does the market react? SEBL also said some stinky things. SEBL is hammered, as are several others in their sector like PSFT, etc. BRCM beat their own #s (big deal), but thats good enough for a $2 move after hours. CY and ELNT both beat, so semis may get a boost based on the #s. Today I think we may bounce hard. Its iffy and its unlikely to be across the board buying, but we should get another tradeable rally after the open that we can trade, assuming we GAP DOWN again! RIght now until we decide which way we are going, playing the open is the safest way to play here. THing is, although the indexes are holding up pretty well, with supports holding nicely, INSIDE the indexes stuff is getting pummelled! Thats the real TRUTH! Nasdaq can be over 2000, but look inside and you see pain and death and misery. VRTS $36s, SEBL $34s, the list goes on and on and on. Is there hope for a sustained rally from here? Yes, if market digests IBM and decides its priced into it. It'll be interesting to see what shakes out after we open and the 1st 30 minutes set in. The BRCM of the world could set up some nice shorts either way. RFMD gapped up, ran and then died to up ever so slightly. Look for BRCM to possibly do same. Lets trade this market and not trust it. We are CHOPPY in a big way with few trend days. It makes it harder to buy and hold overnight, or short and it also makes us winners only if we are taking profits diligently. Trade smaller lots and take profits sooner rather than later. We will prevail, we always do! ! See ya on the other side, WAXIE